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European stocks rebound after selloff, miners jump

Published 05/05/2021, 03:29 PM
Updated 05/05/2021, 03:30 PM
© Reuters.
UK100
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DE40
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STLAM
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BOSSn
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RIO
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AAL
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BHPB
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STOXX
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SX8P
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
May 5 (Reuters) - European stocks bounced back on Wednesday
after a sharp selloff in the previous session, as surging
commodity prices lifted mining stocks, while the earnings season
kept its positive momentum, brightening the mood in the markets.
The pan-European STOXX 600 index .STOXX rose 0.8% in early
trading, with the German DAX .GDAXI jumping 0.9% and UK's FTSE
100 .FTSE gaining 0.6%.
Shares in big UK miners including Rio Tinto RIO.L , BHP
Group BHPB.L and Anglo American AAL.L rose about 2% each as
copper prices rose past a key psychological level of $10,000 a
tonne, buoyed by optimism about a speedy recovery in the global
economy. MET/L
Tech stocks .SX8P rose 1.4% after a 3.7% plunge in the
previous session.
Stellantis STLA.MI edged up 0.8% after the carmaker
reported a better-than-expected quarterly revenue but warned
that a global shortage of semiconductors would affect production
this quarter more heavily. German fashion house Hugo Boss BOSSn.DE rose 2.9% as it saw
first-quarter sales almost double in mainland China, and its
casual business returned to growth.

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